On September 12, 1994, he began hosting a five-night-a-week, syndicated, half hour version of the game show The New Price Is Right, but the show was canceled just four and a half months later on January 27, 1995 due to O. J. Simpson trial. Davidson was one of a few people given an audition to replace Bob Barker after his retirement from The Price Is Right in 2007, a role which ultimately went to Drew Carey. Davidson has also hosted the live stage show adaptation, The Price Is Right Live!, at Harrah's-owned casinos in Las Vegas, Nevada.

From 1998 through 2003, Davidson served as a host of the annual Tournament of Roses Parade. Davidson was seen as the leader of the The Young and the Restless team when they played for charity on the CBS and syndicated Ray Combs era of Family Feud in the early 1990s.

He has been married to actress Cindy Fisher since 1984. They have two children, daughter Calyssa and son Caden.